Envista Holdings Names CEO Chairman; Grants $11.5M in Equity Awards

What Happened

• Envista Holdings Corporation (filed 8‑K on Aug 19, 2026) announced that its Board appointed President and CEO Paul Keel as Chairman of the Board, effective immediately. On August 17, 2026 the Compensation Committee approved compensation changes for Mr. Keel, including a $200,000 base salary increase (from $1.1M to $1.3M, effective Aug 24, 2026) and a one‑time equity package valued at $10 million (grant date Aug 18, 2026).
• The company also granted a special one‑time performance‑based equity award to CFO Eric Hammes valued at $1.5 million (grant date Aug 18, 2026).

Key Details

• CEO Paul Keel: $200,000 base salary increase to $1.3M/year effective Aug 24, 2026.
• Keel Equity Awards ($10M total): $5M time‑based RSUs (25% vests each year over 4 years) and $5M PSUs tied to four‑year relative total shareholder return (TSR) vs. the S&P 400 Health Care Index (performance period begins Aug 18, 2026).
• CFO Eric Hammes: $1.5M in PSUs subject to the same four‑year relative TSR performance condition.
• Forfeiture provisions: RSUs and PSUs are forfeited if service terminates before vesting except for death, early/normal retirement, or a qualifying termination within 24 months after a change in control.

Why It Matters

• These actions officially consolidate leadership (CEO also serving as Chairman) and provide multi‑year equity incentives tied to stock performance, aligning executive pay with shareholder returns.
• The awards increase near‑term potential dilution and add compensation expense but are structured to vest over four years and hinge on relative TSR, so long‑term shareholder performance will determine the ultimate payout.